VW CEO Warns Against Possible Auto Industry Crash Due To EVs

It seems each day the Volkswagen story changes. The automaker has been advertising its dive into electric vehicles for years and still has little to show for it. The Dieselgate scandal shed additional light on the automaker's efforts, as well as the speed at which it was going to push forth with its huge EV offensive. One announcement after another, yet not much has come to fruition. Not to mention plan changes, delays, and sporadic negativity toward electric vehicles.

If you follow the segment, you're likely aware that Europe is aiming to reduce carbon emissions and promote EV adoption by initiating stricter laws. The Parliament was aiming for a 40-percent emissions reduction, while the German auto industry was pushing for 30 percent. Now, the goal has been set at a 35-percent reduction by 2030.

It's no surprise that German automakers will do whatever they can to push the goal in their favor and extend the deadline as long as possible. Building electric cars is not easy and will cost them more money.

While Volkswagen has been releasing constant news about how it's on board with electric vehicles and the automotive group aims to have millions of electric cars on the road by 2025, its CEO Herbert Diess seems to be leading the efforts against the potential emission reduction requirements. In addition, he's going so far as to try to convince us that the entire automotive industry could crash and 100,000 jobs may be lost. Diess said (Süddeutsche Zeitung via Electrek):

The transformation in speed and impact is difficult to manage.[...] Such an industry can crash faster than many believe.